China Mobile to buy into True | Bangkok Post: business

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China Mobile to buy into True

Share sale expected to generate B65bn

  • Published: | Viewed: 4,073 | Comments: 0
  • Newspaper section: Business
  • Writer: Srisamorn Phoosuphanusorn & Suchit Leesa-nguansuk
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True Corporation's almost decade-old quest for a strategic partner is over as it forged an alliance with global telecom giant China Mobile International Ltd (CMI) to support its ambitious regional growth. 

Under the agreement, CMI, a wholly owned subsidiary of China Mobile Communication Co, will pay 28.6 billion baht for an 18% stake in Thailand's leading telecommunications conglomerate, backed by billionaire Dhanin Chearavanont.

A partnership contract was signed yesterday in Bangkok.

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